A major winter storm is forecast to wallop a 2,000-mile stretch of the country from the southern Plains to the Northeast beginning Friday. Depending on the exact storm track, some areas may experience widespread power outages and treacherous driving conditions.
Here are five tips to help your credit union prepare for the winter storm!
- Focus on your credit union’s emergency communications plan. Remind credit union employees how winter closures and delays will be communicated and when decisions will be made by. Ask employees to update their contact information to ensure you have up-to-date information. Have a plan in place for notifying the local news stations, and making updates to social media and the website. Keep the employee list, along with a vendor list, available off-site for easy access during an emergency.
- Focus on business continuity. Establish a plan for remote work. Also, consider planning for essential essentials to stay in hotels near the credit union’s corporate office to access systems and offer remote member services.
- Focus on winterizing branches and corporate offices. Just like winterizing your home—anticipate potential issues before they arise and take timely steps to prevent them. Check for drafts around windows and doors. Insulate exposed pipes to prevent freezing. Locate and label the main water shut-off valve in case of emergencies. Make sure the list of your credit union’s heating contractor, plumber, electrician, fire department and insurance agent is easily accessible.
- Focus on your disaster supply kit and emergency preparedness. Ensure your disaster supply kit includes rock salt to melt ice on driveways, sand to improve traction and snow shovels or other snow-removal equipment. Check that fire extinguishers are operational and not expired. Review and update emergency exit plans.
- Focus on your credit union’s disaster recovery and business resumption contingency plans and NCUA’s NCUA’s Catastrophic Act Preparedness Guidelines. Remember, if your federally chartered credit union has an interruption in vital member services projected to last more than two consecutive business days, you need to notify the NCUA regional director within five business days (Part 748.1 Filing of reports).
Additional Resources
Hurricane and Disaster Information
NCUA Part 748 Catastrophic Acts
